Oil Price Surge Past $107 Puts Pressure on Indian Energy-Sensitive Stocks
Deep News
2 hours ago
Brent crude has climbed above $107 per barrel as escalating geopolitical tensions in the Middle East fuel market anxiety, causing a broad dip in Indian stocks that are sensitive to petroleum prices.
Among state-run refining and fuel marketing companies, Hindustan Petroleum recorded the steepest decline, falling as much as 3.6%. Bharat Petroleum slipped 2.3% before paring some losses, while larger peers Indian Oil and Reliance Industries both dropped more than 1%.
The downtrend extended to the paints sector, with Asian Paints falling up to 2.2% and Berger Paints India down 1.4%. Tyre stocks also weakened, as Apollo Tyres declined 2.3%, Balkrishna Industries shed 1.7%, and CEAT slipped 1.6%.
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